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Here's Why Itron (ITRI) Fell More Than Broader Market
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Itron (ITRI - Free Report) closed at $107.15 in the latest trading session, marking a -0.83% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.11%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.23%.
The the stock of energy and water meter company has fallen by 0.45% in the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51%.
Market participants will be closely following the financial results of Itron in its upcoming release. The company is predicted to post an EPS of $0.94, indicating a 44.62% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $599.02 million, up 10.71% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4 per share and a revenue of $2.36 billion, demonstrating changes of +19.05% and +8.78%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 2.53% higher within the past month. At present, Itron boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Itron is currently exchanging hands at a Forward P/E ratio of 27. This indicates a premium in contrast to its industry's Forward P/E of 26.17.
One should further note that ITRI currently holds a PEG ratio of 1.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.7.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Itron (ITRI) Fell More Than Broader Market
Itron (ITRI - Free Report) closed at $107.15 in the latest trading session, marking a -0.83% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.11%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.23%.
The the stock of energy and water meter company has fallen by 0.45% in the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51%.
Market participants will be closely following the financial results of Itron in its upcoming release. The company is predicted to post an EPS of $0.94, indicating a 44.62% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $599.02 million, up 10.71% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4 per share and a revenue of $2.36 billion, demonstrating changes of +19.05% and +8.78%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 2.53% higher within the past month. At present, Itron boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Itron is currently exchanging hands at a Forward P/E ratio of 27. This indicates a premium in contrast to its industry's Forward P/E of 26.17.
One should further note that ITRI currently holds a PEG ratio of 1.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.7.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.